TreviPay will retain all employees of Apruve. Photo by Vardan Papikyan on Unsplash

B2B payments firm TreviPay has brokered a deal to acquire payment platform Apruve to broaden its geographical reach.

Apruve, which is based in Minneapolis, Minnesota, eliminates the need for suppliers to manage Accounts Receivable (A/R) by extending payment terms to business buyers on behalf of their suppliers.

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It combines A/R automation with guaranteed next-day financing on all open invoices.

The acquisition will expand TreviPay’s order-to-cash technology products and merchant invoicing solutions to include Apruve’s array of payment solutions for global enterprises.

Through this acquisition, TreviPay hopes to further expand its order-to-cash technology offerings and B2B payment network.

TreviPay CEO Brandon Spear said: “TreviPay provides payment and invoicing solutions for a number of leading manufacturers and OEMs; the acquisition of Apruve will accelerate our advancement in the technology manufacturing vertical and expand our geographic reach into key Asian markets.

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“In Apruve, we have found a team that approaches the market in a likeminded way and shares our vision of simplifying the way B2B suppliers get paid. We anticipate a seamless transition as Apruve brings their customers to TreviPay, and as we continue to provide innovative ways for B2B customers to buy more with invoice-based purchasing.”

This acquisition follows TreviPay’s recent purchase of Baton Financial Services, which specialized in business-to-business (B2B) invoice payments.

Under the arrangement, all employees of Apruve will be retained by TreviPay to ensure uninterrupted service to existing clients Apruve.

The companies did not divulge financial terms of the transaction. Apruve CEO Michael Noble said: “Our teams have tremendous synergies and will more efficiently go to market together in the technology manufacturing vertical.”